Burke & Herbert Bank & Trust Co. Has $2.79 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Burke & Herbert Bank & Trust Co. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,173 shares of the network equipment provider’s stock after selling 695 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Cisco Systems were worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC grew its position in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the third quarter valued at about $40,000. Decker Retirement Planning Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $49,000. Capital Performance Advisors LLP bought a new position in Cisco Systems during the third quarter valued at about $51,000. Finally, FSA Wealth Management LLC bought a new position in Cisco Systems during the third quarter valued at about $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,239 shares of company stock worth $2,166,612. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CSCO shares. Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $80.00 in a research note on Thursday. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Stock Up 1.6 %

NASDAQ CSCO opened at $64.87 on Monday. The firm has a market cap of $258.36 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $55.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 68.67%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.